how do i buy and sell real estate with no money down? knowledge?

Question

in need of assistance have some prior knowledge of some of the terminology need walkthrough of basic steps

Answer 1

You can go with the scam artists (the ones on TV who will show you - a total stranger how to make thousands of dollars for only $49)

Answer 2

As the General Manager of a large mortgage company I can assure you that it is ENTIRELY POSSIBLE to purchase a home with no money down! I do those loans every week!!! However, you need to be aware of various issues.

1) You need to have a credit score of at least 600 - 620
2) No serious collections, liens or judgments
3) Enough income to allow you to make payments without strapping yourself.
4) Debt to Income ratio of no more than 50 - 55% (for monthly debt reporting to credit bureaus like credit cards, house payment, car payment, installment loans)
5) A property SELLER willing to give SELLER CONCESSIONS that cover the closing costs (MANY MANY MANY sellers are willing to do this since it helps sell the home faster...ask your realtor)

Talk to a mortgage BROKER. Look for and FHA loan or a NON-CONFORMING LOAN.

Answer 3

You can but Real Estate for no money down but those deals are very rare. This is what they fail to mention on those late night tv programs.